Allan Houston aims for comeback after missing two seasons due to knee pain, and could rejoin Knicks.

Isiah Thomas is in the market for a long-range shooter, and he may not have to look further than his backyard.

Former Knicks shooting guard Allan Houston is still considering a comeback after sitting out the past two seasons, and Thomas could have the first crack at adding a player who averaged 17.3 points during his career and appeared in 63 playoff games.

"I'm not ruling anything out," Houston said yesterday following his daily workout. "But it's still early. I'm not sure what I'm going to do."

Houston, 36, announced his retirement on Oct. 17, 2005 due to chronic knee pain - with two seasons left on his $100 million contract that has since run out - and it is unclear if his body can withstand the rigors of an 82-game season. Houston's minutes and role would be dramatically reduced.

One league source said that several teams are aware of Houston's comeback plans and are monitoring his progress. The Heat could be one of those teams because Miami coach Pat Riley has long admired Houston's talents while veteran center Shaquille O'Neal told Houston last season, through an intermediary, to not rule out joining him in Miami.

O'Neal and Houston have been friends since their high school days; the two players even took their official visit to Louisville on the same weekend. Houston would not discuss specific teams, but it is believed that contending clubs such as Miami, Detroit, San Antonio, Cleveland and Phoenix could have interest.

"All I want to say at this point is that I'm feeling good," Houston said. "I'm working out every day."

Houston's presence in the locker room and on the court could be a major plus for a Knicks team devoid of leadership. Many players among the Knicks' young core - Eddy Curry, Jamal Crawford, Channing Frye, David Lee, Mardy Collins and Renaldo Balkman - have never appeared in a playoff game while Houston proved himself to be a clutch playoff performer.

His series-clinching shot against Miami in 1999 will go down as one of the greatest playoff moments in franchise history. Houston was on the last Knicks team to win a playoff series, in 2000.

Because of Houston's close relationship with Garden chairman James Dolan and MSG president Steve Mills, there is a theory that Houston would probably lean toward returning to the Knicks. However, adding Houston may not make sense because the Knicks already have 14 players with guaranteed contracts and should be adding a 15th - the maximum allowable - when they select 23rd in tomorrow's draft.

The Knicks are considering drafting Rice shooting guard Morris Almond. Boston College small forward Jared Dudley and his teammate Sean Williams are being considered, as is DePaul's Wilson Chandler.

Roster spots could open up if Thomas, the Knicks president and coach, either makes trades or releases a player. The Knicks and Steve Francis could negotiate a buyout, but even if Francis is released, Thomas may decide that he wants to continue building a young team and that adding Houston is not viable.

Houston was the second highest paid player in the league the past two seasons despite not playing a minute. He signed a six-year, $100 million contract extension in July 2001.

WANTING WALLACE: Charlotte Bobcats small forward Gerald Wallace, a renowned Knicks killer, will become an unrestricted free agent on Sunday. The Knicks have interest in signing Wallace, but early indications are that he will re-sign with Charlotte. The Knicks' best and perhaps only chance of acquiring Wallace would be to work out a sign-and-trade. That would also mean that long-time adversaries Thomas and Michael Jordan would take their rivalry from the court to the front office. Jordan owns a minority stake in the Bobcats and has final say on all basketball moves.